Patten & Patten Inc. TN Decreases Position in The Travelers Companies, Inc. (NYSE:TRV)

Patten & Patten Inc. TN reduced its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 4.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,012 shares of the insurance provider’s stock after selling 50 shares during the period. Patten & Patten Inc. TN’s holdings in Travelers Companies were worth $237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRV. Cetera Investment Advisers boosted its stake in shares of Travelers Companies by 356.3% in the first quarter. Cetera Investment Advisers now owns 45,541 shares of the insurance provider’s stock valued at $10,481,000 after purchasing an additional 35,560 shares during the period. GAMMA Investing LLC lifted its stake in shares of Travelers Companies by 162.6% in the second quarter. GAMMA Investing LLC now owns 4,926 shares of the insurance provider’s stock worth $1,002,000 after acquiring an additional 3,050 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Travelers Companies in the second quarter valued at about $17,303,000. Cetera Advisors LLC grew its stake in Travelers Companies by 75.3% during the 1st quarter. Cetera Advisors LLC now owns 10,996 shares of the insurance provider’s stock valued at $2,531,000 after purchasing an additional 4,724 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Travelers Companies during the 1st quarter worth approximately $26,618,000. 82.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Travelers Companies

In other news, Vice Chairman William H. Heyman sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $260.55, for a total value of $781,650.00. Following the completion of the sale, the insider now directly owns 250,384 shares of the company’s stock, valued at approximately $65,237,551.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Andy F. Bessette sold 4,520 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $253.46, for a total value of $1,145,639.20. Following the sale, the executive vice president now owns 16,976 shares of the company’s stock, valued at approximately $4,302,736.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman William H. Heyman sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $260.55, for a total value of $781,650.00. Following the transaction, the insider now directly owns 250,384 shares of the company’s stock, valued at $65,237,551.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,999 shares of company stock valued at $16,580,166. Company insiders own 1.33% of the company’s stock.

Travelers Companies Stock Up 0.6 %

TRV stock opened at $258.36 on Tuesday. The stock has a market cap of $58.65 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.24 and a beta of 0.62. The firm’s 50-day simple moving average is $241.70 and its 200 day simple moving average is $222.90. The Travelers Companies, Inc. has a fifty-two week low of $167.08 and a fifty-two week high of $269.55. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV) last announced its earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share for the quarter, beating the consensus estimate of $3.79 by $1.45. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The firm had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the business earned $1.95 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that The Travelers Companies, Inc. will post 18.53 EPS for the current year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $4.20 dividend on an annualized basis and a yield of 1.63%. Travelers Companies’s dividend payout ratio is presently 21.54%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Travelers Companies from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada raised their price objective on shares of Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Citigroup upped their target price on shares of Travelers Companies from $200.00 to $203.00 and gave the company a “sell” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group lifted their price target on Travelers Companies from $216.00 to $245.00 and gave the stock a “sell” rating in a research note on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods upped their price objective on Travelers Companies from $245.00 to $273.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $247.90.

About Travelers Companies

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.